(AF) Japanese technology investment fund SoftBank is shedding a quarter of its holdings in Uber, the Financial Times reported, citing sources, one of which said the decision followed the slump in Chinese ride-hailer Didi Chuxing’s shares.
The $100-billion Vision Fund will jettison 45 million of its 184 million shares in the American company, lowering its stake in Uber to less than 10%, the report stated. SoftBank’s bet on Didi went $4bn in the red following China’s crackdown on the company just days after it listed in the US, the report said. A separate source was cited as saying the move was unrelated to Didi’s decline. Full story: Financial Times